Understanding And Preventing Financial Elder Abuse

Elder abuse is a recurring issue within today’s society. While abuse comes in various forms, seniors are often targets of financial exploitation. However, financial abuse can be challenging to detect if your loved one’s finances are not reviewed often. According to the Nursing Home Abuse Center, “Only one out of 25 cases of financial exploitation are reported.”

At Stewart Bell, PLLC, we understand that your elderly loved one is vulnerable to financial abuse, and without legal representation, their finances can continue to suffer. That’s why we strive to seek justice on behalf of the elderly.

What Is Elder Financial Abuse?

Elder financial abuse is a type of abuse that targets the finances of an older individual. Financial abuse is not uncommon amongst the elderly, but oftentimes can go unnoticed if they do not consistently check their finances.

Financial abuse can occur multiple ways including telephone calls, unapproved bank transfers, and forgery. It’s imperative your elderly loved one is aware of the risk of financial abuse and how to spot it before becoming a victim.

Ways to Spot Financial Abuse

Financial exploitation can be difficult to detect. Below are warning signs to look for when helping your loved one spot potential signs of financial abuse:

Signatures on checks that don’t match the elder’s signature

Large amounts of money withdrawn from bank accounts

Uncommon ATM activity

Unusual bank account transfers

Lack of funds or unpaid bills

Account closures

Loss of property

If you detect any of these signs, your elderly loved one may be a victim of financial abuse. It’s in your best interest to seek legal advice to discuss what legal options are available.

Tips to Help Your Elderly Loved One Protect Their Finances

In order to protect the finances of your elderly loved one, you must both be aware of the numerous ways to prevent financial abuse:

Don’t make a major financial decision without details and proper financial guidance.

Never give personal information over the phone, unless the caller is trustworthy.

These tips can help protect your elderly loved one against financial abuse.

Your Elderly Loved One Deserves Justice

If you believe your elderly loved one has fallen victim to financial abuse, you need the help of a West Virginia elder abuse lawyer. Countless cases go unreported, however, if you detect any sign of financial abuse, don’t hesitate to contact our law firm. Stewart Bell, PLLC can help you seek justice for the financial abuse your loved one endured.

We understand you want your elderly family member to be in a safe environment with people who care about their well-being. Unfortunately, there are many individuals and businesses that may try to take advantage of them. If this has happened to you, call our office today at (304) 345-1700 or request a free consultation.

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For more than 30 years, the lawyers of Stewart Bell, PLLC have helped the people and businesses of West Virginia protect their interests and rights. We understand the issues that injury victims and their families face after an accident and work quickly to obtain the MAXIMUM amount of compensation for every case we handle.

We have recovered MILLIONS of dollars for clients injured because of nursing home abuse, motor vehicle accidents or medical malpractice.

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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Stewart Bell, PLLC, and attorney Jeff David Stewart, are responsible for the content of this website and all other advertising materials.